When the prestigious Louis Vuitton launched its first NFT game in 2021, the world was surprised: they didn’t know that this was just the beginning. Recently, Louis Vuitton also made headlines with its ultra-restricted NFT Treasure Trunk drop, which grants access to its exclusive community – and it might be worth the $39,000 prize.
After all, this is the second most popular luxury brand of the year and one of the most influential fashion companies of all time. It loves innovation while staying true to its roots and core concept from 1854.
In fact, this name had already entered the NFT space in August 2021 as one of the first physical luxury fashion NFTs to hit the market. As of June 6, 2023, Louis Vuitton had sold more than $41,700 worth of NFTs.
The latest collection, the VIA Treasure Trunk NFTs, takes the concept of exclusivity to a new level while retaining the same design as the original trunks from 1858.
But how does the luxury fashion giant stay relevant in the ever-changing world of NFTs?
Let’s go back to the roots to find out.
Louis Vuitton, a fashion icon
In 2023, the words “Louis Vuitton” are almost synonymous with “luxury fashion.” Founded in 1854, the French brand’s empire now has a market value of $500 billion.
From shoes to perfumes, jewelry and accessories, the company extended its success beyond clothing. Their most expensive item, the Steiff Louis Vuitton teddy bear, costs more than $2.1 million – a record price for a fashion brand.
One of the main reasons why Louis Vuitton remained relevant for more than 150 years is the desire to innovate. Today, the growing Web3 modeniche offers the perfect opportunity to evolve into the digital future – here’s how:
Fashion in the NFT world
Today, the fashion NFT market is a factor to be reckoned with in the Web3 world. This industry will have more than $250 million in revenue by 2023, and for good reason: People’s digital appearance is more important now than ever.
Festivals, corporate gatherings, and holidays all now take place in the metaverse. People care about their virtual appearance just as much as they do in real life. Of course, this is the perfect setting for high-profile brands like Louis Vuitton to enter the Web3 space and set the standard for luxury fashion through NFTs.
The history of Louis Vuitton and NFTs
At the time of writing, Louis Vuitton is making headlines with its VIA Treasure Trunk NFT drop. However, the luxury fashion giant has been present in the NFT market for more than two years. From PFP collections to digital assets and commissioned games, this brand takes a different approach with each new release.
That said, let’s go back to August 2021, when Louis Vuitton launched its first blockchain gaming experience: ‘Louis, The Game’.
Louis Vuitton NFT game
In August 2021, the NFT market exploded with new projects. Pioneering the NFT niche in luxury fashion, Louis Vuitton teamed up with web3 artist Beeple for an NFT game.
Essentially, “Louis: The Game” stars the brand’s mascot, Vivienne, on a virtual journey across France. Since the game celebrated what would have been Louis Vuitton’s 200th birthday, the journey also resembles the one Vuitton himself took when he was 14.
While exploring the whimsical environment, players were able to collect 30 NFTs (ten of which were designed by Beeple). In addition, the blockchain game also surprised players with digital candles that revealed 300 trivia postcards about Louis Vuitton.
The immersive experience also came with a themed PFP collection, also starring the mascot Vivienne. Although Louis Vuitton has long since discontinued the mint, Vivienne NFTs are available on Opensea with a top price of 200 ETH.
‘Louis: The Game’, available through Android and Apple app stores, sparked interest among players. After all, Louis Vuitton was no stranger to the video game industry. The brand previously collaborated with League of Legends for a themed collection.
Fast forward to 2023, the luxury fashion brand is making headlines with a new exclusive drop: the VIA Trunk NFT collection.
The Louis Vuitton VIA Treasure Trunks NFT Collection
On June 6, Louis Vuitton unveiled its most exclusive (and most expensive!) NFT collection to date: the Treasure Trunks. Just as their name suggests, the digital assets provide access to limited Louis Vuitton items and experiences.
But wait! There’s a catch: every Treasure Trunk NFT comes locked. To really unlock the experiences it offers, you also need to punch a digital key that Louis Vuitton will launch in the future. When you open your virtual treasure chest, you will also receive the corresponding physical version.
In terms of design, the NFT collection shares the same details as the very first suitcases designed by Louis Vuitton in 1858. The brand even celebrated the unique launch in its family Maison in Paris!
Surprisingly, the entry list also included some of the top names in the NFT industry. For example, Deadfellaz co-founder BETTY participated in the event, describing it as a “deep dive into the brand’s next era.” The NFT community shared their excitement and curiosity about how luxury fashion brands will continue their web3 journeys.
Louis Vuitton NFT Mint
Accordingly, the brand will launch only a few hundred collectibles. The price of a Louis Vuitton Treasure Trunk NFT is €39,000 with taxes or $39,000 without taxes for US residents.
Collectors can smash their treasure chest on the official Louis Vuitton platform. Note that the brand only accepts fiat, so crypto payments are not available. Even this detail speaks for the brand’s desire to keep its value and prestige intact in the volatile crypto world.
According to Louis Vuitton, the Treasure Trunk NFT collection will not be tradable on secondary platforms such as OpenSea. So the few hundred people who buy a VIA Treasure Trunk NFT will have access to the portal forever. However, members can sell any digital asset launched for the VIA community.
Louis Vuitton’s Web3 future
From web3 games to exclusive NFTs, Louis Vuitton is one of the few brands to coin the term “luxury” in the Web3 space. Despite its innovation, the company showcases the founder’s legacy with each new launch.
These concepts prove how much Louis Vuitton strives to maintain the image that the IRL has created for more than 150 years. Unlike many competitors who changed their approach based on the NFT communities, Louis Vuitton has its own roadmap.
Given that their NFTs are also tradable on OpenSea, Louis Vuitton NFTs could be an ideal long-term digital investment.